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Did you know that you can easily save $14,900 on your mortgage and end up paying it off 2 years and 8 months sooner? Most people take for granted that mortgage loans will take 30 years to pay off since that’s the length of the loan. However there’s usually little to keep you from paying it off early. Most lenders allow you to pay ahead on the principle without penalty, but not many people do this. Some think that in order to make significant traction, they need to pay hundreds of dollars extra on a monthly basis, or even double payments. If you can afford that in your budget, that’s great, but even if you can only get $50 extra you’ll make great progress. Supposing you have a brand new $200,000 mortgage at 4% interest, and just pay $50 per month over the monthly payment, you’ll get done paying it off almost three years sooner and save a bit over $14,900 in interest. But where will you find that $50 to put towards your loan? Your budget is probably pretty tight and maybe you’ve cut back as far as you can. The good news is that you can always earn more money. Just by taking a part time job, working two evenings a week at a grocery store, delivering pizza or babysitting on weekends, you could be debt free in less time than you thought it would take. Or use your tax refund to pay refund to pay off a significant amount of your loan and then, if you consistently get a large refund each year, go into your office’s human resources department and get your withholdings changed so that you bring home more money in each paycheck. Chances are, once you start seeing your mortgage balance shrinking, you’ll be even more motivated and pay as much extra as you can. If you take on an extra job to get that extra money, maybe you can apply all of it to your mortgage since it was money you never had previously. Now, that you know that you can save so much money and time, go find a part-time gig to help get the ball rolling! For more information, go to Mortgage Loan at http://www.creditnowusa.com/Mortgage-Loan
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